Comprehensive Solutions for Education Planning & Saving
HighPoint Advisors, LLC is a full-service financial firm serving family, business, and individual clients in the Syracuse, NY region as well as many other areas across the country. We work to help our clients make smart financial decisions and offer a variety of services, including education saving planning, long-term care planning, retirement planning, estate planning, asset allocation, and wealth management. We also offer individual life, health, and disability insurance.
Why Should I Save?
With education costs rising rapidly at almost every level, preparing for this significant expense is more important than ever. Tuition for private school, college, and trade schools is continuing to increase in price, but the value of those degrees is immeasurable in today’s economy. With a tax-efficient account, you can periodically put amounts of money away over time and allow those funds to gain interest and grow, giving you more value for your dollar down the road.
How Should I Save For My Child's Future Education?
There are many ways that families can save for their child’s future education, including tax-efficient investment accounts designed for that specific goal. One option includes savings plans, such as the 529 Savings Plan. As opposed to simply building cash in a bank account, 529 Plan accounts offer large tax advantages. One important advantage is that interest and investment gains grow tax-deferred over time (just like a 401k Plan). Before selecting a specific 529 Plan, investors should consider whether the investor’s or designated beneficiary’s home state offers state tax deductions or other benefits only available for investments in such state’s qualified tuition program. One of the biggest benefits of a 529 Plan is that withdrawals used for qualified education-related expenses are federally tax-free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.
How Can HighPoint Advisors Help Me?
At HighPoint Advisors, LLC, our team of professionals is experienced and knowledgeable about all the different ways you can save for your child’s future education. We keep current on industry trends and legislative changes, and always strive to provide the most current advice. Our experience in the field allows us to find an appropriate option to meet your budget and lifestyle. We can also help you with other aspects of your financial planning, so you can take care of your financial needs with the same competent team of advisors.
Contact us today to get started.